Personal-use motor cars are personal effects, so their sale cannot generate an allowable long-term capital loss.

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....Personal-use motor cars constitute personal effects rather than capital assets where their intimate and common personal use is established. Non-claim of depreciation, disallowance of car expenses as personal, and absence of business activity support that classification; balance-sheet treatment as a fixed asset does not prevail over actual user. Accordingly, transfer of such a motor car does not generate an allowable capital loss. Authorities concerning business assets or depreciation were distinguishable.....